Beginning inventory was $3,600, purchases totaled $20,200 and and Cost of Goods Sold was $17,200. What is the ending inventory? Assume gross profit is $0.

Name: Beginning inventory was $3,600, purchases totaled $20,200 and and Cost of Goods Sold was $17,200. What is the ending inventory? Assume gross profit is $0.
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Question

Quizplus · Accepted Answer

The formula to calculate ending inventory is: Beginning Inventory + Purchases - Cost of Goods Sold = Ending Inventory. Plugging in the given values: $3,600 + $20,200 - $17,200 = $6,600.

Beginning Inventory Was $3,600, Purchases Totaled $20,200 and And Cost